Indigo Mastercard Cardholder Agreement

On the record for Indigo Mastercard Cardholder Agreement 683: a 35.9% purchase APR, filed by Celtic Bank. The purchase rate sits at roughly the 91st percentile of the 4,587 agreements indexed here.

What the agreement puts on the record

This page covers the agreement Celtic Bank filed for Indigo Mastercard Cardholder Agreement 683. The filing runs 14 pages, and It is issued on the Mastercard network.

The disclosure covers a purchase rate, a late payment maximum, a foreign transaction fee and a grace period. No figure appears for a cash advance rate, a balance transfer rate and a penalty rate.

How the purchase rate compares

35.9% puts the purchase APR near the 91st percentile across 2,280 agreements, so it lands high in the distribution.

Translating the rate into money

The purchase rate turns a $2,500 revolving balance into roughly $1,079 of annual interest.

Against the corpus median of 21.99%, that is approximately $464 a year of extra interest on the same $2,500.

These figures are arithmetic on the disclosed rate, not a quote: they assume the balance is never reduced, ignore any payments, and take no account of fees charged separately.

What the card costs before you borrow

Spending abroad costs an extra 1% — about $15 on $1,500 of purchases, independent of interest.

Grace period and minimum charge

25 days is the disclosed grace period for purchases — the interval in which paying in full costs nothing. That matches the 25-day median across the corpus almost exactly.

The $1 minimum interest charge means the effective cost of carrying a very small balance is far higher than the quoted APR implies.

Default pricing

On the fee side, a late payment can cost up to $41, which is around the 89th percentile here.

The issuer's other agreements

Celtic Bank has 92 agreements indexed on this site. Their disclosed purchase rates run from 22.49% to 35.9%, and this one at 35.9% is more expensive than 25 of them.

The limits of this document

The disclosure parsed here does not state anything about cash advances, balance transfer terms, an annual fee and penalty pricing. Those gaps are gaps in what could be read from the filing, and the PDF may well address them in prose the rate table does not capture.

What this analysis can address is bounded by the filing: rates, fees and the terms around them. Everything a card issuer might advertise — rewards, benefits, bonuses, who qualifies — falls outside the document and outside this review.

Go to the source

The original filing, 14 pages long, is linked on this page and should be read before any figure here is acted on. It is also a snapshot: issuers refile as terms change.

In short

35.9% on purchases is the number that dominates this agreement. Paid in full each cycle it never applies; carried, it is among the dearer prices in this index.